Abstract

Abstract
There are extensive studies in the literature about the reorder point/order quantity policies for inventory management, also known as (r,Q) policies. Over time different algorithms have been proposed to calculate the optimal parameters given the demand characteristics and a fixed cost structure, as well as several heuristics and meta-heuristics that calculate approximations with varying accuracy. This work proposes a new meta-heuristic that evolves closed-form expressions for both policy parameters simultaneously - Cooperative Coevolutionary Genetic Programming. The implementation used for the experimental work is verified with published results from the optimal algorithm, and a well-known hybrid heuristic. The evolved expressions are compared to those algorithms, and to the expressions of previous Genetic Programming approaches available in the literature. The results outperform the previous closed-form expressions and demonstrate competitiveness against numerical methods, reaching an optimality gap of less than (Formula presented.), while being two orders of magnitude faster. Moreover, the evolved expressions are compact, have good generalisation capabilities, and present an interesting structure resembling previous heuristics. © 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group.

Abstract

Abstract
The Oil and Gas Exploration & Production (E&P) field deals with high-dimensional heterogeneous data, collected at different stages of the E&P activities from various sources. Over the years different soft-computing algorithms have been proposed for data-driven oil and gas applications. The most popular by far are Artificial Neural Networks, but there are applications of Fuzzy Logic systems, Support Vector Machines, and Evolutionary Algorithms (EAs) as well. This article provides an overview of the applications of EAs in the oil and gas E&P industry. The relevant literature is reviewed and categorised, showing an increasing interest amongst the geoscience community. © 2016 ACM.

Abstract